A change in supply cannot be caused by a change in:
a. resource prices.
b. technology.
c. prices of other goods.
d. the price of the good itself.
e. the number of suppliers.
d
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Refer to Scenario 10.2. Suppose that a tax of $5 for each unit produced is imposed by state government. What is the profit maximizing level of output?
A) 0 B) 90 C) 95 D) 100 E) none of the above
If the quantity supplied is the same regardless of price, then supply is
a. elastic. b. perfectly elastic. c. perfectly inelastic. d. inelastic.
For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies below the average revenue curve. B. lies above the demand curve. C. cannot be negative. D. All of these statements are true.
A firm that does business in many different countries is called a __________________.
Fill in the blank(s) with the appropriate word(s).